Syllabus: GS3/Economy
In News
- The report titled Towards Resilient and Prosperous Cities in India recently released by the World Bank.
About the report
- It is prepared by the World Bank in collaboration with the Ministry of Housing and Urban Affairs.
- It studied 24 Indian cities, with a special focus on Chennai, Indore, New Delhi, Lucknow, Surat and Thiruvananthapuram.
Key Findings of Recent Report
- Indian cities have huge potential for economic growth, with 70% of new jobs expected to come from cities by 2030.
- India’s urban population is expected to nearly double by 2050, reaching 951 million. This will create a need for over 144 million new homes by 2070.
- Smart investments can prevent $5 billion in annual flood damage by 2030 and up to $30 billion by 2070.
- Also, over 130,000 lives can be saved from extreme heat by 2050.
Issues
- Cities face growing risks from extreme weather like heatwaves and floods.
- Rising temperatures in city centers and poor drainage due to fast construction are making cities hotter and more flood-prone.
Recommendations
- Implement programs to address extreme urban heat and flooding, including better regulation of stormwater, green spaces, installation of cool roofs, and effective early warning systems.
- Invest in resilient infrastructure and municipal services, energy efficient and resilient housing, modernize solid waste management, and make urban transport flood resilient.
- Improve access to urban finance through better private sector engagement.
- Investments of over $2.4 trillion will be needed by 2050 to meet the need for new, resilient, and low-carbon infrastructure and services in cities.
- The private sector’s role will be critical in meeting these investments.
Source :IE
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